Pacific Biosciences of California (NASDAQ:PACB) Given Neutral Rating at Piper Sandler

Pacific Biosciences of California (NASDAQ:PACB)‘s stock had its “neutral” rating reissued by Piper Sandler in a research report issued on Thursday,Benzinga reports. They presently have a $2.00 price objective on the biotechnology company’s stock, down from their prior price objective of $2.50. Piper Sandler’s target price would indicate a potential upside of 23.84% from the stock’s current price.

Other research analysts have also recently issued reports about the company. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. Scotiabank lowered their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. The Goldman Sachs Group lowered their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday. Stephens reaffirmed an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Finally, UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average target price of $2.79.

Pacific Biosciences of California Stock Down 8.8 %

PACB traded down $0.16 on Thursday, hitting $1.62. 8,377,246 shares of the company were exchanged, compared to its average volume of 12,683,980. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.09. The company has a market cap of $442.28 million, a price-to-earnings ratio of -0.99 and a beta of 1.92. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $39.22 million during the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same period in the prior year, the firm posted ($0.27) EPS. On average, equities analysts predict that Pacific Biosciences of California will post -0.71 earnings per share for the current year.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now directly owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACB. Creative Planning increased its position in Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 7,629 shares during the period. Impact Partnership Wealth LLC increased its position in Pacific Biosciences of California by 44.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 12,093 shares during the period. Ballentine Partners LLC acquired a new position in Pacific Biosciences of California during the 3rd quarter worth approximately $43,000. Carret Asset Management LLC increased its position in Pacific Biosciences of California by 110.1% during the 3rd quarter. Carret Asset Management LLC now owns 163,000 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 85,400 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Pacific Biosciences of California by 60.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,335 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 20,417 shares during the period.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.